HOW MUCH OF AN IMPACT DID THE PANDEMIC HAVE ON BUILDING REPAIR COSTS?

Source: Insurance Business UK - September 2021.

“Sedgwick’s newest report on building repair costs in the UK reveals how the COVID-19 pandemic exacerbated issues the sector was already experiencing even before the coronavirus hit.

According to the firm’s Q1 UK building repair cost review, there was a 5% increase in repair costs during the period. Sedgwick noted that during the quarter, many manufacturers operated at reduced output as a result of the pandemic. The report also suggests that cost increases could continue to rise to 7% by the end of 2021."

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